New Residential Destinations in Mumbai

 western suburbs aerial view mumbai1 Redefining the western suburbs New Residential Destinations in Mumbai

By Accommodation Times News Service

Development requires the stability to envision new projects and the perseverance and aptitude to actually get them built. In real estate industry the role of the developer is to orchestrate the entire development process from start to finish. Developers can be one individual outsourcing al the work tp third parties or a large form which handles everything. Either way the developer must have knowledge of nearly every process phase and service involved, including site selection market analysis, finance, construction, leasing and sales and it should not hurt the legal and transactional skills to handle the contracts and liability concerns present in development projects. Development is a dynamic business filed with a steep learning curve. The developer is often required to be the first one in with equity and the last to get paid, but if the process is managed correctly, the payouts will be well worth the time and effort it took to get the development done. In the current environment where owners are more conscious of the bottom line, it is crucial that a developer has knowledge and ability to execute on nearly all of the development process.

Mumbai has emerged as the only solace for the thousands of people living somehow in the city. Any other means to get a home within the territory is simply out of the question for a majority of them because of the enormous capital values of prime properties in the city. The whopping appreciation in the market values of real estate in Mumbai has made some areas costlier than foreign countries! Hence, it is the cheaper options being brought by the latest housing projects from time to time that are keeping the hope of owning individual homes alive for a major section of the population. Thus the execution of a housing project in Mumbai is waited passionately and is received wholeheartedly. Since the latest housing projects are planned taking into account the needs and income levels of the various social sections, it has become convenient for a resident in the city to find a suitable accommodation within his/her means. The types of houses, however, vary according to the nature of the project. While the basic amenities are found universally in all the housing projects, some special facilities, which have become a symbol of lavish and luxurious lifestyles, are the benchmarks for the projects targeting at premium category. Hence, the most recent housing projects in Mumbai are benefiting all the categories of people. According to the census Mumbai now houses almost millions of people which makes it India’s most populous city and the world’s second largest city. To compound the massive annual inward migration of aspiring the city is been bursting at the seams of infrastructure is rocking and reeling. If we see the inner city the development has taken steep boost on available land parcels anymore and those that are available land parcels. We can see Mumbai’s residential and commercial property destination as sufficient development.

The city has been saturated with development, if we single out the specific areas in central and suburb we encounter massive development in areas like Thane, Kalyan, Dombivali, Vikhroli, Ghatkopar, in central and Mira Road, Bhayender,  Naigaon, Vasai, Virar in suburb or western line.

Thane is one of the fastest growing areas of infrastructure in Mumbai. Affordable property rates and peaceful environment is the reason for many people buying property around this region. The biggest commercial complex and Residential apartments are located on the Thane Mumbai.

Thane is the prime location of Mumbai where Builders and Real Estate Developers, on the other hand, are working on various residential projects to provide all categories of home seekers. Thane Project is one of the popular Residential Developments in Mumbai with many excellent amenities such as mystical Landscaping Gardens, Library, Swimming Pool, Tennis Court, Jacuzzi, Fully equipped Gymnasium with world class equipments, Children’s Play Area, Mini theater etc. The capital values of prime properties in Thane have increased substantially since the process of Real Estate Development was begun by private developers and housing authorities. Properties in Thane have attracted the attention of prominent builders of the country as well as Real Estate Investors “A place where early rays of sunshine sprinkle their first golden delight”. A residence that takes you to the even greater heights of luxury, joy and peace.

Dombivli or Dombivali, a town in Thane is in the proximity of the Maharashtra state capital Mumbai. Real estate in Dombivli is fast gaining popularity due to the availability of space and the facilities offered by this locality. Dombivali being one of the well-planned cities in India, it offers some luxurious and plush residential and commercial spaces. As most of the people migrate to this locality to fulfill their educational or professional needs, they generally look for rental homes. The properties here are mostly fully furnished and focus on comfortable lifestyle. The residential real estate in Dombivli comprises of lush 1, 2, 3 and 4BHK apartments, villas, independent houses, plots and townships .Most of the prominent builders are coming up with new and luxuriant residential projects in Dombivli. Some of the top-class projects in Dombivli are Casa Bella, Casa Rio, Lodha Elite – luxurious residential projects by Lodha Group, Sapphire Gardens –affordable residential apartments by Sapphire Homes Pvt. Ltd.

Kalyan junction is an important railway station for suburban travelers, as well as for long distance trains. Local trains running on Mumbai-Karjat and Mumbai-Kasara tracks pass through Kalyan. With good road and train connectivity, it acts as the central point for various nearby towns such as Ulhasnagar, Dombivli, Ambernath, Bhiwandi, Murbad and Thane. In addition, Kalyan hosts its own bus service, Kalyan Dombivli Municipal Transport (KDMT) run by the Kalyan Dombivli Municipal Corporation. It also serves Navi Mumbai. The industrial development in and around the Dombivli-Kalyan belt has attracted a number of young professionals. Affordable and budget homes have given a new outlook to the real estate sector in Kalyan. Many developers like, Lok Group, Nirmal Lifestyles, Regency Group, Ajmera Builders, Sanghvi Builders and others have set up their projects here. Though far from the main suburb, Kalyan has eventually became one of most sought after destinations for affordable residential housing with huge township projects providing wide range of amenities due to the availability of spare land at cheap prices.

Affordable homes have become the latest trend in real estate due to which distant locations have gained new identities, with buyers opting to settle here. One of the suburbs of Mumbai, Vikhroli, is located on the central railway line. Primarily divided into East and West, Kannamwar Nagar, Tagore Nagar, Godrej quarters are the prime residential areas of Vikhroli. From luxury homes to budget homes, today Housing has their projects Mayfair Sonata Greens, and Symphony Springs, which are equipped with modern amenities and better infrastructure. n terms of infrastructure, Vikhroli has wide roads, easy connectivity to Powai, LBS Marg that makes it preferred destination. Frequent trains and bus services make it more accessible. Suresh Haware, MD, Haware Builders, says, “Vikhroli is developing very well. The redevelopment of Vikhroli is very necessary as it is an old colony but with MHADA not having cleared the FSI in this area, the redevelopment process has not taken off yet. Also the redevelopment procedure is quite cumbersome and the government needs to sort it out at the earliest which should further fuel the potential of this place. Vikhroli has the advantage of being adjacent to the highway. It is centrally located and shares close proximity to Thane as well western and central suburbs as well as Navi Mumbai. So the scope for its development is huge.”

Let’s talk about the development in western part of Mumbai, Powai stands out as a clear candidate for excellent destination development location because the Jogeshwari Vikhroli Link Road offers good connectivity between the western and central suburbs. It is one the prime examples of destination development in the country, having been positioned with the right mix of asset classes, fabulous architecture and the vision.

In terms of accessibility, the Western Express Highway, S. V. Road and Linking Road along the western line have made Mumbai’s western suburbs very attractive to upper mid-income homebuyers who are seeking a better lifestyle. In fact, the direct road connectivity offered by the Western Express Highway has caused Thane’s Ghodbunder Road to emerge as an extended western suburban destination. In the Western Suburbs, Malad and Goregoan have been the examples of destination development in the past where developers like Raheja and Oberoi have created a cluster of excellent commercial office, retail and residential projects. Similarly, the Versova-Andheri-Ghatkopar Metro will make locations along its route very lucrative for both commercial and residential space developers. We the Mumbaikars in future will definitely see a better and Shanghai like city.

Similar Articles

Leave a Reply